Economy of Digital Trust: Why Blockchain Has Become a Requirement

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Economy of Digital Trust: Why Blockchain Has Become a Requirement Source: Blockchain is a guarantee of honesty and safetySource: Digital Trust-new necessity for effective businessSource: It is essential to digitize each business` side
Economy of Digital Trust: Why Blockchain Has Become a Requirement
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Economy of Digital Trust: Why Blockchain Has Become a Requirement
Until recently, blockchain seemed to be something distant and abstract. Today, the use of blockchain is a real guarantee of honesty and safety of the company's work and products. We are moving towards the broad adoption and necessity of universal blockchain implementation. Both advanced and ordinary company managers have learned in practice the benefits of blockchain and the need for its implementation.
Data security, trust, and remote notarization are now achievable with launching blockchain technology. Digital Trust is a new necessity for effective business management at an accelerated pace without increasing risks.

The pandemic suddenly burst into our life and confused the plans of every corporation, small company, and each ordinary person. It shattered the supply chains all over the world and significantly affected the global economy.

Since the supply chains were broken, the world was faced with counterfeit and a flood of poor-quality goods. This applies not only to food production but also for medicine and other essential industries. The counterfeit strike damaged the consumer's trust and reputation of brands. Now it is even more difficult to build trusted business relationships without launching new technologies, including the blockchain. It became the guide in the time of rapid changes.

Trust Between Businesses

Great trusting business relationships could have been established for years. The contemporary pace of making and developing a business no longer tolerates for such long. Blockchain technology plays the role of the intermediary and builds trust without risks and in the shortest possible time. Implementing blockchain-based tools is a way to create new deals, partnerships, save time and effort, speeding up the pace of work.

Blockchain is a data storage system in a distributed network that regularly checks itself for authenticity and excludes any outside interference. Distributed data storage and smart contracts prevent any difficulties with carrying out business transactions. Not only the blockchain itself but the tools based on it are necessary for secure business interactions. The development of these tools brought the blockchain to real use in the business environment. This blockchain-based software includes transaction and authorization services, smart contracts, electronic signature, and more.

FCE Platform has developed the ecosystem of the blockchain-based software for the full-fledged business digitization. It is essential to digitize each side of the business to make it manageable and efficient for the company’s supervisors and employees and trustworthy for its partners, customers.

The use or even readiness to use blockchain tools shows that the company seeks to gain trust and be open to its business partners. It is also necessary to implement the tools based on the blockchain technology for better coordination, efficiency, and transparency of the internal work of the companies.
Source: Blockchain is a guarantee of honesty and safety
Source: Blockchain is a guarantee of honesty and safety
Source: Digital Trust-new necessity for effective business
Source: Digital Trust-new necessity for effective business
Source: It is essential to digitize each business` side
Source: It is essential to digitize each business` side
Trust Between People and Machines

Blockchain can act as a trusted intermediary not only between people but also between people and machines. Automatic data collection and storage require a high degree of data protection from leaks, fakes, and distortions. Distributed data storage and encryption guarantee the recorded data remains correct. The blockchain solves the main problem of the implementation of the Internet of Things into everyday life. When all data is immutable and constantly tested, the Internet of Things sensors become invulnerable to cyberattacks. This decision resumes the postponed implementation of the Internet of Things into the production, logistics, and everyday processes. Automation together with blockchain raise the level of the company’s power of attorney and show its responsibility to both partners and consumers.

Control and Secure Storage of Information

Data security was not just an obstacle for the Internet of Things sensors. Large volumes of document flow are constantly replenished, and companies need better handling and security of their documents. Keeping documents in a distributed ledger is a necessity to maintain a high level of company cybersecurity and internal control. In addition to saving documents, blockchain-based tools can monitor the workflows within the company, track their execution, and overall progress.

Blockchain went from the technology of the future to a necessary tool for building trust, safe data storage, and proper controlling workflows. Digitization has become connected to blockchain-based tools that ensure the sustainability and security of digital transformation. Things that seemed fantastically distant until recently, today became the only opportunity to move to the required level of power of attorney and transparency quickly and smoothly. If you need individual solutions for the blockchain digitization of the business, you can apply for consulting now.



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